AUD/USD: general review

The AUD/USD pair continues growing. The pair was supported by strong data from Australia that came out better than forecasts. The Trade Balance deficit shrank to 2.94 billion, while the AiG Performance of Services Index grew to 51.8 points.

Today pair’s dynamics can influenced by data on Initial Jobless Claims and Factory Orders from the US. Tomorrow attention needs to be paid to data on Retail Sales in Australia and the Unemployment Rate in the US.

Support and resistance

On the daily chart , the pair is trading near the upper MA of Bollinger Bands . The price remains above the EMA50, EMA100 and EMA144 that are horizontal. MACD histogram is in the positive zone and its volumes are growing. ADX is moving up, while DI lines are crossing each other and heading in opposite directions.

Long positions can be opened from current prices with targets at 0.7340, 0.7380 and stop-loss at 0.7320. Validity – 1-2 days.
Short positions can be opened from the level of 0.7290 with the target at 0.7250 and stop-loss at 0.7310. Validity – 1-2 days.

More analytic from LiteForex: English https://www.liteforex.com/trading/forex-analysis/?uid=880952068&cid=12118Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118